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Updated almost 2 years ago, 01/17/2023
HMLS bunding multiple small loans into one?
Saw this posted earlier:
Quote from @Jason Hirko:
Quote from @Jason Hirko:
@Keenon A Trevor
Most HMLs won't do loans under $50k as you mentioned... HOWEVER since
you have multiple sub $50k properties, many HMLs will bundle them into
the same loan. They get a reasonable sized loan and you get your
properties financed. Try asking a few local lenders about that.
I have two properties I'm looking to flip, both under $50k, but together closer to $80k. I wanted to ask how one loan on two properties would work. Do I need to have the COE dates adjusted to the same day? If not how much of a gap between COE dates becomes an issue when bundling a loan over two different properties?